Squarepoint Ops LLC Makes New $321,000 Investment in Planet Labs PBC (NYSE:PL)

Squarepoint Ops LLC acquired a new stake in Planet Labs PBC (NYSE:PL - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 79,388 shares of the company's stock, valued at approximately $321,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sterling Capital Management LLC increased its stake in Planet Labs PBC by 790.6% in the 4th quarter. Sterling Capital Management LLC now owns 6,840 shares of the company's stock worth $28,000 after purchasing an additional 6,072 shares during the period. Wedbush Securities Inc. purchased a new stake in Planet Labs PBC during the 4th quarter valued at $41,000. SBI Securities Co. Ltd. purchased a new stake in Planet Labs PBC in the fourth quarter worth approximately $42,000. Sciencast Management LP purchased a new position in shares of Planet Labs PBC in the fourth quarter worth approximately $43,000. Finally, Cetera Investment Advisers purchased a new position in Planet Labs PBC during the fourth quarter valued at $46,000. Hedge funds and other institutional investors own 41.71% of the company's stock.

Planet Labs PBC Trading Down 2.0%

Shares of PL opened at $5.84 on Friday. Planet Labs PBC has a 52 week low of $1.73 and a 52 week high of $6.71. The stock has a 50 day moving average of $3.61 and a 200-day moving average of $4.16. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of -14.24 and a beta of 1.61.

Planet Labs PBC (NYSE:PL - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported ($0.04) earnings per share for the quarter, beating analysts' consensus estimates of ($0.05) by $0.01. Planet Labs PBC had a negative net margin of 48.88% and a negative return on equity of 24.16%. The company had revenue of $66.27 million during the quarter, compared to the consensus estimate of $62.25 million. On average, sell-side analysts predict that Planet Labs PBC will post -0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Cantor Fitzgerald reissued an "overweight" rating and issued a $6.30 price target on shares of Planet Labs PBC in a report on Friday, March 21st. Needham & Company LLC restated a "buy" rating and set a $8.00 price objective on shares of Planet Labs PBC in a research report on Thursday. Citigroup increased their price objective on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock a "buy" rating in a research report on Friday. Wedbush raised their price target on shares of Planet Labs PBC from $5.00 to $7.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Wall Street Zen raised Planet Labs PBC from a "sell" rating to a "hold" rating in a research report on Friday. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $6.38.

Planet Labs PBC Company Profile

Planet Labs PBC engages in the design, construction, and launch constellations of satellites with the intent of providing high cadence geospatial data delivered to customers through an online platform worldwide. The company's platform offers planet monitoring, basemap, tasking, apps, and application programming interfaces, as well as analytics and planetary variables.

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